Reconcile an incorrect payment to employee

svetlanamelik
Contributing User
8 Posts
Contributing User
Contributing User

8Posts

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Reconcile an incorrect payment to employee

I accidentally paid an employee their gross amount rather than the net amount. So the payrun is correct, but the bank transfer is wrong.
 
I was going to take the extra amount from her pay next week but I'm not 100% sure how to reconcile the overpaid bank transaction in myob essential. At first, I thought the easiest thing to do would be to delete the pay and recreate one where the take home pay is the amount I accidentally paid her but I can't generate this exact figure as no combination of her rate and hours makes this exact amount. Can you please advise the best way to reconcile the bank transaction?
1 REPLY 1
Tracey_H
MYOB Moderator
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MYOB Moderator
MYOB Moderator

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Re: Reconcile an incorrect payment to employee

Hi @svetlanamelik 

 

Thanks for your post. I think the easiest way to handle this would be using a clearing account. 

 

- Create a new account as a clearing account, I would set it as a new bank account.

- Go to Payroll > Payroll settings > temporarily set the new clearing account as the Pay From account.

- Delete the original pay, then re-record it. 

- Process the next weeks pay to the clearing account.

- Allocate those bank transactions to the clearing account as well, which returns its account balance to $0.

- Change the Pay From account to the main bank account again.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
Previously @bungy15

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